506 E 24th St · Wolfforth, TX 79382

$186,000

2 bd · 2.0 ba · 1,005 sqft · SingleFamily · 12 Days on market

Built 2026 4,250 sqft lot

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Why this score? — see what drove the D+ grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +10.2/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.4/10.0
• Livability +4.0/5.0
• 1% rule +3.0/10.0
• DSCR +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Buy NOW and get up to $7,000 Use-It-Your-Way Cash + a 4.99% interest rate with our designated preferred lender if you close before August 17, 2026! This is only available for FHA and VA loans with no down payment assistance. The Callie is a modern 2-bedroom, 2-bath home with a brick and vinyl exterior and covered entry. Features luxury vinyl plank flooring, granite or quartz countertops, a kitchen island with bar seating, and stainless steel appliances. Includes upgraded fixtures and a private master suite with a walk-in closet.

Key facts

• Upgraded fixtures
• Covered entry
• 4,250 sq ft lot

Tags

• BRICK AND VINYL EXTERIOR
• COVERED ENTRY
• LUXURY VINYL PLANK FLOORING
• GRANITE OR QUARTZ COUNTERTOPS
• STAINLESS STEEL APPLIANCES
• UPGRADED FIXTURES

Property features AI

Exterior

• Parking: 1 parking space
• Utilities: Has heating and cooling
• Home design: Spec home, plan named Callie; Single-story (entry level not specified)

Interior

• Bedrooms: 2 bedrooms
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating; Central air; Ceiling fans
• Interior features: Dishwasher; Disposal; Microwave

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $186k.

Deal economics

• At list price, monthly cash flow is $-105 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $171k (8.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $149k (19.7% below list).
• Recommended offer: $149k (19.7% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 80/100 on livability (#43 in TX, #1,872 nationally) — a professional / high-income tenant draw. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F, commute F.
• Frenship ISD (urban): math 47% / reading 54% proficiency, ranked #162 of 826 in TX (top 20%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 472 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 53% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 2,219 units permitted in Lubbock County in 2024 (252 in 5+ unit buildings).

Forward outlook

• In year one you build about $20k of equity ($1k loan paydown + $19k appreciation (10.0% local appreciation)).
• Lubbock County population projected at +39% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 2, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $149,363 (19.7% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
4. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
5. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
6. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
7. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.80% ✗
• Cap rate: 5.61%
• Cash-on-cash: -2.43%
• DSCR: 0.89
• GRM: 10.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 22.6%
• Equity multiple: 2.82×
• Total profit: $94,608
• Equity at exit: $167,564

10-year hold

• IRR: 20.2%
• Equity multiple: 6.45×
• Total profit: $283,930
• Equity at exit: $361,357

Cash invested: $52,080 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 87 Strongly Landlord-Friendly
• State Texas: 87 Strongly Landlord-Friendly · R+5
• County: — inherits STATE
• City: — inherits STATE

3-day notice; statewide preemption; one of the fastest eviction climates; Travis County (Austin) slightly slower.

Methodology + full state rankings →

ZIP-level market 79382

• Active inventory: 472
• Price-to-rent: 10.4×

Monthly cashflow live

• Estimated rent: $1,494 high
• Mortgage (P&I): −$975
• Tax est. 1.5%: −$232 /mo · $2,790/yr
• Insurance: −$78
• HOA: −$0
• Vacancy / Maint / Mgmt: −$314
• Net cashflow: $-105

Break-even live

Break-even rent $1,627

Max offer price $170,743

Occupancy floor —

Sensitivity live

Price	-10% $23	-5% $-41	+0% $-105	+5% $-170	+10% $-234
Rent	-10% $-223	-5% $-164	+0% $-105	+5% $-46	+10% $13
Rate	-1.0pp $-12	-0.5pp $-58	base $-105	+0.5pp $-154	+1.0pp $-203

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $46,500
• Closing costs: $5,580
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
407 E 21st St Wolfforth, TX	3.0	2.0	1360	$1,399	$1.03	22d	1	0.09mi
2011 Bryan Ave Wolfforth, TX	3.0	2.0	1350	$1,450	$1.07	45d	1	0.11mi
2418 Aberdeen Ave Wolfforth, TX	3.0	2.0	1450	$1,799	$1.24	45d	1	0.11mi
2008 Bryan Ave Unit Harvest-2008 A Bryan Wolfforth, TX	3.0	2.0	1223	$1,400	$1.14	45d	1	0.14mi
2006 Corpus Ave Unit A Wolfforth, TX	3.0	2.0	1223	$1,425	$1.17	15d	1	0.17mi
2001 Bryan Ave Unit B Wolfforth, TX	3.0	2.0	1360	$1,400	$1.03	45d	1	0.17mi
2001 Corpus Ave Unit 2001 B Corpus Wolfforth, TX	3.0	2.0	1350	$1,500	$1.11	22d	1	0.18mi
2001 Corpus Ave Unit B Wolfforth, TX	3.0	2.0	1316	$1,500	$1.14	15d	1	0.18mi
1817 Corpus Ave Wolfforth, TX	3.0	2.0	1405	$1,600	$1.14	15d	1	0.21mi
2304 Corpus Ave Wolfforth, TX	3.0	2.0	1316	$1,425	$1.08	45d	1	0.22mi
2008 Cottonwood Ave Wolfforth, TX	3.0	2.0	1450	$1,810	$1.25	45d	1	0.24mi
304 E 19th St Wolfforth, TX	3.0	2.0	1114	$1,150	$1.03	14d	1	0.30mi
1712 Corpus Ave Wolfforth, TX	2.0	2.0	1335	$1,375	$1.03	45d	1	0.34mi
611 E 14th St Wolfforth, TX	3.0	2.0	1299	$1,725	$1.33	45d	1	0.72mi
127 Brooke Blvd Wolfforth, TX	3.0	2.5	1714	$1,757	$1.03	14d	2	1.27mi

Listing history 16 events

1. 2026-06-18
   days on market $186,000 Active 12 DOM
2. 2026-06-18
   price $186,000 Active 11 DOM
3. 2026-06-17
   days on market $196,340 Active 11 DOM
4. 2026-06-16
   days on market $196,340 Active 10 DOM
5. 2026-06-15
   days on market $196,340 Active 9 DOM
6. 2026-06-13
   remarks 534-char remark
7. 2026-06-13
   days on market $196,340 Active 6 DOM
8. 2026-06-10
   days on market $196,340 Active 4 DOM
9. 2026-06-09
   days on market $196,340 Active 3 DOM
10. 2026-06-09
    status $196,340 Active 2 DOM
11. 2026-06-05
    status $196,340 Pending 2 DOM
12. 2026-06-03
    days on market $196,340 Active 2 DOM
13. 2026-06-02
    days on marketlisting id $196,340 Active 1 DOM
14. 2026-06-01
    days on market $196,340 Active 142 DOM
15. 2026-05-31
    days on market $196,340 Active 141 DOM
16. 2026-05-30
    days on market $196,340 Active 140 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $17,924
• − Mortgage interest: −$10,419
• − Property taxes: −$2,790
• − Insurance: −$930
• − Repairs & maintenance: −$1,434
• − Management: −$1,434
• − Depreciation: −$5,411
• Taxable loss: −$4,494
• Est. tax savings @ 24.0%: +$1,079
• After-tax cash flow: $-187/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Frenship ISD
• NCES district ID: 4819830
• Math proficiency: 47% ▼ -8.00%
• Reading proficiency: 54% ▬ 0.00%
• Median HH income: $54,376
• Composite: 43.59/100
• National rank: #2976
• State rank: #162 of 826 in TX

Livability — Wolfforth

• Score: 80/100
• State rank: #43
• US rank: #1872

Category grades

Amenities F Commute F Cost of living A+ Crime A- Employment B- Housing A+ Health & safety A+ User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Wolfforth, TX
• County: Lubbock County · 293,542 people
• City population: 10,512
• Metro: Lubbock, TX
• Population (ZIP): 10,512
• Household income: $84,457
• Rent vs Own: 23.0% rent · 77.0% own
• Severe rent burden: 135.0

Population outlook (Lubbock County) Hauer SSP2

• Today (2025): 345,960 people
• By 2030: 371,449 · +7.4%
• By 2040: 424,539 · +22.7%
• By 2050: 481,150 · +39.1%
• By 2075: 633,467 · +83.1%
• By 2100: 746,853 · +115.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (64%)
• Race & ethnicity: White 64% Hispanic / Latino 31% Two or more races 18% Black 1%
• Hispanic origin (detail): Mexican 28%
• Common ancestry: Italian 4% Slovak 2% Lithuanian 2%
• Foreign-born: 4% · Canada
• Languages at home: 85% English-only · Spanish 14%

Political lean MEDSL · Lubbock

• 2024 margin: Solid R (+39.5) · D 29.7% · R 69.2% · Other 1.0%
• 2008→2024 swing: -2.8pp toward R · 2008: -36.7pp · 2024: -39.5pp
• All cycles: 2024: R+39.5 2020: R+32.2 2016: R+38.4 2012: R+40.9 2008: R+36.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 166.08%
• Current HPI: 561.4491
• Rent YoY: —
• Metro: Lubbock, TX
• State GDP YoY: ▲ 3.95%
• F500 in state: 110

Industry mix (Fortune 500 HQ in TX)

Industry	F500 HQs	Revenue
▸Energy	16	$1,198B
▸Technology	5	$198B
▸Engineering / Construction	4	$72B
▸Energy Services	3	$60B
▸Utilities	3	$41B
▸Healthcare	2	$330B